StockNews.com Downgrades Allegion (NYSE:ALLE) to Hold

Allegion (NYSE:ALLE) was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating in a report released on Tuesday.

A number of other equities analysts have also commented on the stock. Wells Fargo & Company dropped their price target on shares of Allegion from $152.00 to $140.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 7th. Morgan Stanley assumed coverage on shares of Allegion in a research report on Monday, January 6th. They issued an “equal weight” rating and a $137.00 price objective for the company. Mizuho boosted their price target on shares of Allegion from $135.00 to $150.00 and gave the stock a “neutral” rating in a research note on Thursday, October 17th. Robert W. Baird increased their target price on shares of Allegion from $145.00 to $152.00 and gave the stock a “neutral” rating in a report on Friday, October 25th. Finally, Barclays cut their price objective on shares of Allegion from $137.00 to $134.00 and set an “underweight” rating on the stock in a research report on Wednesday, January 8th. One research analyst has rated the stock with a sell rating and six have assigned a hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $140.83.

Allegion Price Performance

Allegion stock traded up $1.52 during trading hours on Tuesday, hitting $129.78. 469,457 shares of the company traded hands, compared to its average volume of 739,707. The firm’s 50-day simple moving average is $136.49 and its two-hundred day simple moving average is $136.20. The firm has a market cap of $11.28 billion, a P/E ratio of 19.94, a P/E/G ratio of 3.35 and a beta of 1.11. Allegion has a 1-year low of $113.27 and a 1-year high of $156.10. The company has a quick ratio of 1.29, a current ratio of 1.71 and a debt-to-equity ratio of 1.26.

Allegion (NYSE:ALLE) last posted its quarterly earnings data on Thursday, October 24th. The scientific and technical instruments company reported $2.16 earnings per share for the quarter, topping the consensus estimate of $1.98 by $0.18. The firm had revenue of $967.10 million for the quarter, compared to analysts’ expectations of $970.70 million. Allegion had a net margin of 15.36% and a return on equity of 45.64%. The company’s quarterly revenue was up 5.4% compared to the same quarter last year. During the same period in the previous year, the company posted $1.94 EPS. As a group, analysts forecast that Allegion will post 7.41 earnings per share for the current fiscal year.

Insider Buying and Selling at Allegion

In related news, SVP Robert C. Martens sold 8,035 shares of the business’s stock in a transaction dated Friday, October 25th. The stock was sold at an average price of $144.92, for a total value of $1,164,432.20. Following the completion of the transaction, the senior vice president now owns 7,104 shares of the company’s stock, valued at $1,029,511.68. The trade was a 53.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO John H. Stone bought 7,500 shares of the firm’s stock in a transaction on Tuesday, December 3rd. The stock was purchased at an average cost of $140.70 per share, for a total transaction of $1,055,250.00. Following the completion of the acquisition, the chief executive officer now owns 120,481 shares in the company, valued at approximately $16,951,676.70. This trade represents a 6.64 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 0.33% of the company’s stock.

Institutional Investors Weigh In On Allegion

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Lord Abbett & CO. LLC raised its stake in Allegion by 96.8% during the third quarter. Lord Abbett & CO. LLC now owns 1,674,644 shares of the scientific and technical instruments company’s stock worth $244,063,000 after acquiring an additional 823,874 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Allegion by 397.8% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 606,901 shares of the scientific and technical instruments company’s stock worth $88,450,000 after purchasing an additional 484,995 shares during the last quarter. International Assets Investment Management LLC bought a new stake in shares of Allegion in the 3rd quarter valued at about $666,840,000. Millennium Management LLC increased its position in Allegion by 483.1% during the 2nd quarter. Millennium Management LLC now owns 515,563 shares of the scientific and technical instruments company’s stock valued at $60,914,000 after purchasing an additional 427,146 shares during the period. Finally, Massachusetts Financial Services Co. MA increased its position in shares of Allegion by 13.9% during the third quarter. Massachusetts Financial Services Co. MA now owns 1,904,632 shares of the scientific and technical instruments company’s stock worth $277,581,000 after buying an additional 232,395 shares during the period. 92.21% of the stock is currently owned by institutional investors.

Allegion Company Profile

Allegion plc manufactures and sells mechanical and electronic security products and solutions worldwide. The company offers door controls and systems and exit devices; locks, locksets, portable locks, and key systems and services; electronic security products and access control systems; time, attendance, and workforce productivity systems; doors, accessories, and other.